NASDAQ: Bullish as long as the 4H MA100 holds.
Nasdaq is having a standard technical pull back turning the 4H time frame neutral (RSI = 52.452, MACD = -2.890, ADX = 30.912) but the 1D remains bullish as since March 13th, the index has been trading inside a Channel Up pattern.
As the chart shows, every crossing under the 4H MA50 has been a buy signal (2 times) unless when the 4H MA100 broke as well, in which case the downtrend was extended to the 4H MA200 (2 times also). The 4H RSI has a clear Buy Zone and it just bounced on it, so we're already bullish (TP = 14,950). If though the 4H MA100 breaks, we will open a short term sell as well, targeting the bottom of the Channel Up (TP = 14,000), where upon contact with the 4H MA200 we will add a 2nd buy.
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As the chart shows, every crossing under the 4H MA50 has been a buy signal (2 times) unless when the 4H MA100 broke as well, in which case the downtrend was extended to the 4H MA200 (2 times also). The 4H RSI has a clear Buy Zone and it just bounced on it, so we're already bullish (TP = 14,950). If though the 4H MA100 breaks, we will open a short term sell as well, targeting the bottom of the Channel Up (TP = 14,000), where upon contact with the 4H MA200 we will add a 2nd buy.
Prior idea:
## If you like our free content follow our profile to get more daily ideas. ##
## Comments and likes are greatly appreciated. ##
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